Shoora Designs IPO: GMP, subscription status on day 1 and other key details
₹48 per equity share at the face value of ₹10 each. Bids can be made for a minimum of 3,000 equity shares and in multiples of 3,000 equity shares thereafter. Shoora Designs IPO is a fresh issue comprising 4,23,000 equity shares of the face value of ₹10, aggregating upto ₹2.03 crore.The company intends to utilise the net proceeds from the issue towards working capital requirements and general corporate purposes.
Shoora Design IPO's basis of allotment shares will be done on Thursday, August 24 and the company will initiate refunds on Friday, August 25. The shares will be credited to the demat account of allottees on Monday, August 28. Shoora Design shares are likely to be listed on BSE SME on Tuesday, August 29.
Also Read: Concord Biotech IPO: What does GMP signal about the listing? Kfin Technologies Limited is the IPO registrar while Swaraj shares and securities private limited is the IPO lead manager. Satish K Kansodariya, Sejalben Satish Kansodariya, and Rajeshbhai Labhubhai Mer are the promoters of the company. Shoora Designs is engaged in the business of manufacturing and trading diamonds and jewelry.
The company manufactures natural diamonds and jewelry mainly focusing on the natural lab grown diamond and jewelry. Shoora Designs' jewelry is available on both offline market and online platforms. Shoora Designs Limited IPO subscription status was 3.14 times on day 1.
The issue received decent response from retail investors who's portion set was subscribed 5.70 times, and non-institutional buyers who's portion set was subscribed 58%, according to data on chittorgarh.com. The company has received bids for 12,42,000 shares against 4,23,000 shares on offer, according to data on chittorgarh.com. Also Read: Pyramid
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